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The Latest Tax Code Cheat: Audit Immunity, Conflicts of Interest, and Crypto Grift
President Trump is attempting to give himself a get out of tax jail free card: the Trump Justice Department recently settled an IRS case brought by Trump that gives him, his businesses, and his family (and their businesses) tax amnesty.…
The Latest from AFR
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The Private Equity 401(k) Trap
Wall Street and the Trump administration are pushing dangerous deregulation to give private equity firms access to the more than $14 trillion in retirement savings kept in 401(k) and other defined contribution plans. The proposal would risk people’s retirement security and amount to a tremendous and regressive transfer of wealth from workers saving for retirement…
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AFR in the News
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Financial Times: Protesters gather outside JPMorgan headquarters over SpaceX debut
“We’re very concerned that in just a few trading days [SpaceX stock] is poised to end up in people’s 401ks,” said Natalia Renta, associate director for corporate governance and power at non-profit Americans for Financial Reform.
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Bloomberg: As SpaceX Makes Musk Trillionaire, Some Dissent on NYC’s Streets
“The scene is set for wealthy early investors to cash out while leaving retirement savers holding the bag,” said Natalia Renta, associate director of corporate governance and power at Americans for Financial Reform, a group that helped organize the demonstration.
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Business Insider: I went to a SpaceX IPO protest. The target wasn’t just trillionaires — it was Wall Street.
Natalia Renta, associate director of corporate governance and power at the Americans for Financial Reform Education Fund, told me that not only does SpaceX’s lack of profit concern her, but it’s the amount of total control Musk has over the company and the lack of accountability to shareholders.
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Trump CFPB deleted nearly 4,000 webpages spanning 15 years
In late May, the Consumer Financial Protection Bureau (CFPB) under Trump-appointee and acting director Russell Vought launched a newly redesigned website that deprioritized consumer complaints and reframed the CFPB as a deregulatory agency rather than the nation’s only financial watchdog focused on protecting consumers in the market. As part of this overhaul, the Trump-Vought CFPB…
